CNBC: Europe shares trade lower after factory data
European shares were lower in mid-morning trade on Friday after data revealed that the euro zone manufacturing sector ended 2014 on a subdued note.
Markit's manufacturing purchasing manager's index (PMI) for the region came in at 50.6 in December, slightly below a flash estimate. The 50-point mark separates contraction from expansion.
The STOXX Europe 600 traded higher after the open until manufacturing data was released, but fell to trade 0.3 percent lower later on.
The FTSE was trading down 0.79 percent after markets opened. Weir Group, Shire and Fresnillo were among the best performers and housebuilders Taylor Wimpey and Barratt Developments were among the worst.
Trading volumes are expected to be thin in Europe, however, as they have been in Asia, during the first session of 2015.
Asian equities were quiet given a lack of foreign cues and economic data releases. Markets in China, Japan, Thailand and the Philippines remained shuttered for the holiday season.
In Europe, markets in Russia and Switzerland are closed on Friday.
In currency markets, the euro was trading around a 29-month low against the dollar of $1.2058 on Friday.
It came after the head of the European Central Bank (ECB) Mario Draghi said in an interview with German financial paper Handelsblatt that the risk of the central bank not fulfilling its mandate of preserving price stability was higher now than half a year ago, Reuters reported. Draghi reiterated the central bank's readiness to act with further stimulus measures early this year, should it become necessary.
A slight rebound in oil prices did little to boost sentiment in Asia, although prices moved lower again in early European trading hours.
Benchmark Brent crude was trading at $57.09 at around 8.30 a.m. GMT following China's weak factory activity in December.
In other news, a specialist multinational team armed with acoustic equipment will arrive at the suspected crash site of a AirAsia jet off Borneo on Friday, bolstering the search for the plane's black box flight recorders. Bad weather has hampered search efforts, so far.
